Daqo New Energy Corp. DQ is engaged in the manufacture and sale of high-quality polysilicon and could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on DQ’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Daqo New Energy could be a solid choice for investors.
Current Quarter Estimates for DQ
In the past 30 days, 1 estimate has gone higher for Daqo New Energy while none has gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 20 cents a share 30 days ago, to 35 cents today, a move of 75.0%.
Current Year Estimates for DQ
Meanwhile, Daqo New Energy’s current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 13 cents per share 30 days ago to 41 cents per share today, an increase of 215.4%.
The stock has also started to move higher lately, adding 27.2% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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DAQO NEW ENERGY (DQ): Free Stock Analysis Report
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